Movers & Shakers: May 14, 2013

Botswana: DCI +0.01%, USD 1.75m

Some chunky action in Choppies increased activity on the Gaborone bourse today. The name accounted for 95% of the vols and closed at 300t. There was also some activity in FNBB (370t) and Letshego (230t).

Egypt: EGX 30 -0.31%, USD 45m

The market continues to witness profit booking today lead by international institutions and GCC nd institutional investor, leaving the EGX30 to end the day down 0.31% to close at 5,400.76 points. The market continues to trade very weak volumes yet a slight improvement to recent average turnover, the market traded a total turnover of USD 45m, its worth mentioning that the market witnessed several notable crosses in names such as HRHO and TMGH. The market continued with its profit booking sentiment this comes after OCIC's EGP280 tender offer has been put to an end this morning after the company announced the tender offer will be EGP255 which created some disappointed among investors, the name ended the day down 1.64% to close at EGP241.80. HRHO gained notable interest on high volumes, this comes after the company proposed 1 bonus share for every 5 shares held, the name ended the day up 2.21% on above average volumes.

Investor mix:
•  Foreigners were net Sellers by 24.44 mn EGP and were 19.11% of the market.
•  Egyptians were net Buyers by 27.29 mn EGP and were 68.32% of the market.
•  Arabs were net Sellers by 2.85 mn EGP and were 12.58% of the market.
•  Institutions were net Sellers by 17.58 mn EGP and were 35.24% of the market.
•  Retail were net Buyers by 17.58 mn EGP and were 68.78% of the market.

Kenya: NSE 20 -0.44%, USD 11.4m

Equity turnover climbed 163.3% on the back of improved activity in EABL, KenolKobil and KCB Bank which were the largest movers of the day. Foreign investors accounted for 46.8% of activity, up from 42.3% in the previous session. EABL added 1.7% to KES 355 on continued foreign investor trading which has dominated the brewer for weeks. KenolKobil fell 3.7% despite speculation of a potential new offer for the oil marker which had surfaced earlier in the session. KCB Bank fell 5.3% to KES 40.50, with the more than adjusting for the DPS of KES 1.90. Safaricom gained 2.9% after the telco announced a 37.5% jump in FY13 net profits.

Mauritius: Semdex -0.41%, USD 327k

A soft day in Mauritius as both volumes and performance slipped markedly. NMH has been reversing all of last week’s gains and fell by 5.84% to Rs72.50 while the big banks were also weak, MCB (-1.03%, Rs193) and SBM (-96bps, Rs1.03). These were partially offset by gains in ENL Land (+1.05%, Rs48) and Terra (+1.94%, Rs42). The other hotels had a good day with Lux Islands and Sun Resorts rose by 6.19% and 1.24% to Rs22.30 and Rs28.50 respectively.

Nigeria: ASI +0.14%, USD 26.49m

Profit takers in the banks were in the market today as the sector fell by 64bps. The biggest faller was Skye Bank which fell by 4.77% to N5.19 while Access (-2.11%, N10.65) and ETI (-1.32%, N15) were also weak performers. Selected profit taking was also evident in the consumers as the sector closed down 14bps. The biggest faller was Guinness (-3.49%, N270.22) followed by Dangote Sugar (-1.71%, N8.05) while the other large cap consumers were unchanged. Nestle did close up 17bps at N920.50 on good volume. Dangote Cement rose by 1.01% to close at N180.

Please note that the index figure above is correct at the time of writing.

South Africa: Top 40 +0.88%, USD 1.56bn

The JSE ended the day higher with the Top 40 Index gaining 0.88% to close at 36,053 while value traded amounted to USD 1.56bn. Industrials were the day's biggest gainers with the Index gaining 1.49% followed by Financials which gained 0.66% while Resources fell 0.28%. The Rand was trading at 9.20 and 11.94 to the USD and EUR respectively by the time local markets closed.

Zambia: LuSE +0.98%, USD 105k

Better day in Lusaka today with value traded amounting to USD 105k thanks to a cross in Zambeef. The names that traded included AELZ, ATEL, BATZ, CEC, LAFA,PUMA, ZMBF, ZNCO, ZAMBREW and ZSUG. ZMBF was the biggest contributor towards turnover with value traded in the name amounting to USD 59k. AELZ was the second biggest contributor towards turnover with value traded in the name amounting to USD 18k.

Zimbabwe: Industrials +0.05%, Mining unch, USD 720k

The market reversed yesterday’s losses with Industrials firming by a marginal +0.05% to close at 204.72 pts in the wake of mixed trades in heavy weights. Minings were unchanged at 73.80 pts with a singular trade of the day taking place in Bindura at previous price of 3c. Despite the Industrials positive trail, transaction values succumbed -64% to $0.72m. This was positively correlated to the -54% reduction in volumes traded to 4.91m. Similarly foreign purchases took a -71% dip to $0.29m while foreign sales were -99.9% down to a mere $1,000 creating a net inflow of $0.288m. Resurgent demand in retail stocks saw clothing retailer Truworths leading the risers after putting on 25% to trade at 5c. Cement manufacturer PPC was +17% up at 270c in anticipation of its half year results. Hippo regained lost ground adding 12% to trade at 112c as the market awaits the group’s March results. Revived and now wholly indigenous construction and manufacturing concern Masimba which has been on a sustained upward trend notched a further 6% to 5.3c. Investment Holding group TA continued on its recovery path adding 5.6% to 9.5c. Lower bidding saw Art and CFI sliding 7.7% and 3.9% to trade at 0.6c and 5c respectively. Heavy weights Econet and Delta with imminent financial results completed today’s losers. Selling pressure continued on the Econet resulting in a 2.8% loss to trade at 69.96c while Delta lost a marginal 0.01% to close at 135.99c.

African Currencies